Stress Reduction in Two-Steps

Money is the top source of stress in our lives according to a Harris Poll for the American Psychological Association. This is not surprising. It has been at the very top of the list since the polls began in 2007. Recently, though, this stress seems to be harming our health as well. Because of money stress, people are more apt to lead unhealthy lives, spiritually, mentally, and physically.

No generational group is immune to this stress. From Millennials to the Boomers, money is constantly on our minds, crowding out any other thoughts or priorities we should regard more diligently. Even folks bringing in fat paychecks try to cope with money stresses in rather unhealthy ways, like drinking, smoking, watching too much TV, and surfing the web.

What I’m getting at is you and I are not alone when it comes to financial stress. Financial stresses, resulting from debt, have our minds and bodies in chains.

But, there’s a way to break out of them.

Here are two ways that you can minimize your financial stress. You can do either one or you can do both. However, whichever route you decide to take, I can guarantee a net benefit.

1.) Give more to charity and God.

When you give to God, it shows that you put Him first above everything. Letting Him know that you trust Him to do good works with your first fruits will definitely help with the spiritual alignment. But, it also has a bit of the multiplier effect of benefits. Some say that the money you give will boomerang back with a positive monetary return on investment (ROI). I will also say that the ROI is even larger when you account for the changed lives that are attributed to the generosity of our brothers and sisters.

Most will say that the feel-good benefits will multiply as well. According to a Harvard study, happier people give more. However, it’s hard to say whether it’s because people are happy that they give more or because people give more they that they are happy. Regardless, this correlation is strong and positive.

I don’t care who you are, all I know is that if you are a human, you are probably horrendous at getting rid of debt. Most are pretty good at eliminating debt for a couple months before another purchase or “emergency” happens that requires going underwater again. This comes from personal experience and academic studies. Some, like myself, have even taken on new debts to get rid of old debts! Also known as consolidation. This may be effective but if you have no one holding you accountable or helping you do this, you will quickly compound the debts you currently owe.

Okay, now about the help. Here are 5 reasons you should consider a financial advisor. Regardless of your level of income, I highly recommend getting some pros to help you out. But, I recommend these guys that specifically work with getting rid of your debt in record time and finding the financial freedom that we all desperately need. Like, imagine getting rid of your mortgage in 9 years as opposed to the 15, 20, or 30 years? Get your Debt Blueprint for free today!

Now this two-step process probably won’t rid you of all your worries, but if taken seriously, I think you would see vast improvements in your well-being. More importantly, you will rid yourself from the chains of debt and financial stresses allowing you to dedicate more of your attention to the things that matter—like, actually living a meaningful life.

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Published by Kevin D. Gomez

Kevin D. Gomez is an Instructor of Economics at Creighton University and Program Manager at the Institute for Economic Inquiry. He received his B.S. in Economics and Statistics from Florida State University and his M.A. from George Mason University. Trying to pay it forward by helping noneconomists make sense of the crazy world.
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